Property Transactions (Tables)

12 Months Ended

Dec. 31, 2012

Property Transactions [Abstract]

Properties sold that qualify as discontinued operations

The following properties which were held-for-sale in 2012 or sold in 2012, 2011 and 2010 met the criteria for discontinued operations presentation ($ in thousands):

Property	Property Type	Location	Square Feet	Sales Price
2012:
The Avenue Forsyth	Retail	Atlanta, GA	524,000	$	119,000
The Avenue Collierville	Retail	Memphis, TN	511,000	55,000
The Avenue Webb Gin	Retail	Atlanta, GA	322,000	59,600
Galleria 75	Office	Atlanta, GA	111,000	9,200
Cosmopolitan Center	Office	Atlanta, GA	51,000	7,000
Inhibitex	Office	Atlanta, GA	51,000	Held-for-sale
2011:
King Mill Distribution Park — Building 3	Industrial	Atlanta, GA	796,000	28,300
Lakeside Ranch Business Park — Building 20	Industrial	Dallas, TX	749,000	28,400
Jefferson Mill Business Park — Building A	Industrial	Atlanta, GA	459,000	22,000
One Georgia Center	Office	Atlanta, GA	376,000	48,600
2010:
San Jose MarketCenter	Retail	San Jose, CA	213,000	85,000
8995 Westside Parkway	Office	Atlanta, GA	51,000	3,200

Components of Income (Loss) from Discontinued Operations

The following table details the components of income (loss) from discontinued operations for the years ended December 31, 2012, 2011 and 2010 (in thousands):

	2012			2011			2010
Rental property revenues	$	22,517		$	41,092		$	46,613
Third party management and leasing revenues	16,364			19,359			18,976
Other income	3,526			179			4,814
Rental property expenses	(6,746		)	(15,480		)	(16,824		)
Third party management and leasing expenses	(13,679		)	(16,584		)	(17,393		)
Depreciation and amortization	(9,344		)	(19,481		)	(23,268		)
Impairment losses	(13,790		)	(7,632		)	—
Other	(49		)	(63		)	(65		)
Income (loss) from discontinued operations	$	(1,201	)	$	1,390		$	12,853

Gain (loss) on sale of investment properties in discontinued operations

Gains (losses) related on sales of discontinued operations are as follows for the years ended December 31, 2012, 2011 and 2010 (in thousands):

	2012			2011			2010
Third party management and leasing business	7,459			—			—
The Avenue Forsyth	4,508			—			(10		)
The Avenue Webb Gin	3,590			—			—
Cosmopolitan Center	2,064			—			—
Galleria 75	569			—			—
The Avenue Collierville	73			—			—
King Mill Distribution Park — Building 3	307			4,977			—
One Georgia Center	(104		)	2,805			—
Lakeside Ranch Business Park — Building 20	(59		)	1,121			—
Jefferson Mill Business Park — Building A	—			(394		)	—
San Jose MarketCenter	—			10			6,572
8995 Westside Parkway	—			—			654
Gain on sale of discontinued operations, net	$	18,407		$	8,519		$	7,216

Fair value of the assets and liabilities acquired

The following table summarizes the fair value of the assets and liabilities acquired (in thousands):

	2012			2011
Land and improvements	$	5,987		$	13,439
Building	36,705			94,190
Tenant Improvements and FF&E	9,034			8,600
Tangible assets	51,726			116,229
Intangible Assets:
Above-market leases	3,267			3,991
In-place leases	8,888			16,172
Total intangible assets	12,155			20,163
Intangible Liabilities:
Below-market leases	(436		)	(1,659		)
Total net assets acquired	$	63,445		$	134,733